tv Business - News Deutsche Welle January 3, 2018 12:02am-12:15am CET
muslim the hordes of men after the department tweeted a new year's greeting in arabic. there are states thinks about slapping further sanctions on iran office a deadly crackdown on protesters the biggest anti-government demonstrations in years. also coming up the same money for the same work pioneering heisman becomes the first country to enshrine equal pay for men and women in law. never mind buying into the latest fashion trend how about just borrowing them instead we take a tour around a clothes life for you right here in germany. this is your business update on how the home free thanks for joining me now you think that u.s. companies would be entering the new year with a sense of the tax reform the rate of twenty one percent down from the previous
thirty five percent but in the short term not all companies are coming out windows with some having to pay a steep tax bill focused including german company hired a back cement the american investment bank goldman sachs and the british commodity giant b.p. . the deepwater horizon oil spill in the gulf of mexico cost b.p. a total of almost sixty two billion dollars in the balance sheet all the costs are rising out of the twenty ten disaster can be used to offset future tax liabilities in the financial world these costs are described as tax deferred assets the recent tax reform significantly reduces the value of these tax deferred assets costing b.p. a lot of money this year u.s. investment bank goldman sachs said the tax reform will cut its twenty seven thousand profit by about five billion dollars while other companies including german company heidelberg cement are also affected negatively by the changes to the
u.s. tax code once these charges are booked however companies have a lot to look forward to in the long run but all profit from paying less corporate taxes in the us. on this let's go over to our man on wall street a quarter yes so it seems that companies will have to step in line to reap the rewards of this reform what will that mean for them. well it's probably a one time event and if we talk about those deferred tax s. it said the company would have paid those anyway just later in the future and as we've just heard in the mid and long term especially companies from the financial industry from the energy industry it will probably in the long run profit from the new tech system and we've also seen seen it on the stock market those stocks have not been highly damaged by those
a one time payments all right we've got some new highs on the nasdaq and the s. and p. five hundred well so i think that. it's pretty much the believe that a lower texas higher corporate profits legs regulation and global grows will continue to drive the markets higher than to believe on wall street and therefore new records at the first trading day of the year and it appears that new year's resolutions all playing out on those financial markets as. well i mean we got the stock of weight watchers up by a good eight percent the reason behind this is that d.j. . actually decided to jay to join weight watchers so he has almost four million followers on twitter and even more than eight million followers on instagram we saw we've seen something similar with winfrey when she joined weight watchers
a good two years ago the stock went off and she herself probably made a good three hundred million dollars so no weight watchers whole thing to actually do that once again no was a d.j. . let's see how that works out our financial correspondent james quarter thanks very much. in iran people have long been frustrated of the state of the economy but a recent. crisis has made it was president has said rouhani has acknowledged the public's anger over the economic turmoil in the country want to rounded benefit from his nuclear deal with wild powers in twenty fifteen most iranians did not feel the benefit of living standards remain stagnant. the protests began thursday in response to a forty percent price increase for eggs and poultry the government also announced plans to raise fuel prices the moves would have hit the poor especially hard at
a time of economic uncertainty inflation is at ten percent unemployment is high and young iranians face weak job prospects this despite the high hopes that many expressed as international sanctions began to be lifted in the wake of iran's nuclear deal. with the sanctions being lifted we hope that foreign capital pours into the country. that will allow us to reopen factories. and then it will be easier for young people to find a job that suits their taste is surely the idaho his own business. but that's not what happened foreign investment did increase but not to an extent that would allow the broader population to live a better life one reason is the country still decrepit banking sector international
money transfers are difficult and many credit institutions are essentially bankrupt so far the government has failed to build a stable trustworthy financial sector. threats from the u.s. to reintroduce sanctions have also made foreign investors wary many iranians once place their hopes for reform in president has done rouhani but now they see him as an ineffectual leader unable to stand up to the islamic hardliners who really run the country. well a little earlier we spoke to the economist fatah qatar and he told us that despite the lifting of economic sanctions in the wake of the nuclear deal iran's economy still has a way to go round was isolated by round a bald at least one decade out of the world economy and right before it was the versified economy really related and dependent on imports and also on exports and so there is the need for
a catching up process which already began. in iceland the new year has brought with it and you know making it illegal to pay men more than women for the same walk and it's the first country in a while to make both public and private enterprises accountable to the rules and a bit to close the gender pay gap once and for all. until now women in iceland have earned an average nineteen percent less than their male colleagues but those days are over equal pay for equal work has just become a must there irrespective of gender ethnicity sexuality or nationality the new law will cover over one hundred fifty thousand workers. of course so far women have borne the cost of the gender pay gap and if that cost is too high and to reach our goal we're all going to have to work hard now we have the perfect chance to do so thank you pillars of. the new law affects one thousand two hundred companies in iceland which employ at least twenty five workers who now have to publish their
wage scales there are courses to help them implement the new rules on completion companies get a certificate which has to be renewed every three years. your back to memphis performs this will affect employers first and foremost they're offering the jobs and now it's up to them to shoulder their responsibilities. and be part of this mission with us pack up the that rhetoric of the mail good to talk to close the country's gender pay gap by twenty twenty two and the other countries have made similar moves for now iceland is the global pioneer. but it's safe to say that clothing may be something of a human necessity but clothes aren't always good for the wall around us german government estimates that you'll need two thousand seven hundred liters of water just to make a cotton t. shirt that one company north of germany hopes to save the environment and closet space by acting as a kind of library for garments. this is
a pop up store with a difference fashion house klyde i dot com is opening a temporary outlet here in its home city of hamburg. for the next eight weeks customers can take home outfits and the latest styles for the season by simply borrowing them. to have some baskets in mind i've just borrowed this coat and the skirt it's a new experience for me and so far i really like it make it fits with a statement to school it just and it's sustainable and that means that's enough this waste. i think is a great idea i hope it catches on. clyde and i does most of its business online customers can subscribe for forty nine euros a month for the money they receive for garments which they can then wear for four weeks to founders take laville kidding and fendel it's more than just a business idea they hope to change lifestyles. this might sound
corny but the big vision we have is that consumption patterns have to change. and they can change and we can be at the forefront of that make our contribution. that's about us nearly two thousand items are currently in circulation they consist of clothes for up and coming designers along with selected been to jail terms and even pieces contributed by customers five employees are busy choosing a shipping receiving and if necessary repairing the clothes the owners say they're reinvesting their profits to meet the company's growing demand. tactic it's a decision i have to make every day do i take the money home or do i use it to develop my business to make it more user friendly better for the customers with a bigger selection is that. the company opened the store so that customers could see the kind of things they could borrow they can also buy anything
that strikes their fancy and when the store closes at the end of february all the clothes will go back to the warehouse but that's all it will be taking back to stay true to its philosophy it rented all its furniture and equipment even the pictures on the wall. say with the latest on the wild all business i'll be back tomorrow same time same place then.
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